Google announced this Wednesday (9) an investment of €13 billion, about US$ 15.1 billion, in digital and artificial intelligence infrastructure in Finland over the next two years. The plan includes an agreement of 22 years with Fortum to purchase energy from the Loviisa nuclear power plant, in the company's first nuclear contract outside the United States.
The investment, planned for 2027 and 2028, will be directed to data centers and associated infrastructure in Hamina, Kajaani, Muhos and Vaala. According to Google, it is its largest individual investment ever announced in Europe.
The energy purchase agreement, known as PPA, starts in 2028 with a lower volume and may reach 50% of the capacity of the Loviisa plant between 2030 and 2049. The facility has two 507 MW reactors and currently accounts for about 10% of the electricity consumed in Finland.
For Fortum, the contract provides revenue predictability to continue a program of approximately €1 billion aimed at keeping Loviisa operating until 2050. About €700 million of the necessary investments still depend on future decisions. The agreement should also enable an additional 10 MW increase in the plant's capacity, in addition to a planned 38 MW expansion.
Nuclear energy is part of a broader Google strategy to meet the growth of its data centers without relying only on new intermittent sources. In Finland, the company also contracted new wind projects and a battery system of 94 MW, scheduled to enter operation at the end of 2027.
Google and Fortum also signed a memorandum to evaluate new nuclear projects, renewable generation and storage and flexibility systems. Among the possibilities is the development of new reactors in Loviisa.
The expansion highlights how the advance of artificial intelligence is also increasing the demand of large technology companies for long-term electricity generation. Google already has nuclear agreements in the United States and now takes this strategy for the first time to another market.
